Cost Basis Reporting Update
Tuesday, May 29, 2012 - 11:08
Just a quick update. It appears that via IRS Notice 2012-34 Cost Basis reporting for debt instruments and options has been effectively date delayed for one year.
As such we can expect that the date for new regulations to apply regarding debt instruments acquired, and options granted or acquired will now be January 1, 2014. Needless to say, we will continue to track these developments and, of course, will provide for our subscribers a complete breakdown regarding further developments via future articles and tax tips.